Announced Tue, 23 Jun · 17:06 IST
GST order on IPO expense ITC, total demand of about Rs 5.84 crore
Regulatory & Legal View source PDF
MVGJL · price
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Price reaction · full curve 14 horizons · vs prior close
-0.6%1-day move
₹143.85
prior close
₹143.10
base price
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AI summary
Manoj Vaibhav Gems N Jewellers received an order from the Central GST Commissionerate, Visakhapatnam on June 22, 2026, confirming tax demands and equivalent penalties totalling Rs 5.84 crore plus applicable interest. This relates to alleged irregular input tax credit claimed on IPO expenses from FY 2021-22 to FY 2024-25. The company plans to appeal before ADC Appeals, Central Tax, Guntur within statutory timelines and states there is no impact on operational activities.
Likely market impact
Adverse tax order of about Rs 5.84 crore plus interest may weigh on sentiment. Company is appealing, no operational impact stated.